SERV Technology Sdn Bhd (SERV) and Direct Lending Sdn Bhd (Direct Lending) roll out financial relief for workshops under the SERV Retail-iation program, focusing on automotive aftermarket businesses. The partnership is a supply assistance program amounting up to RM3,000 per workshop, aimed at aiding them to procure auto part supplies.
This partnership is made in response to the recent pandemic crisis, Covid-19, that has impacted most automotive aftermarket businesses that were unable to operate at full capacity due to the Movement Control Order (MCO) enforced by the Malaysian government.
These businesses are having a hard time sustaining their business given the loss of revenue with many facing cash flow and working capital difficulties.
“In these unprecedented times, we are doing the best that we can to assist our merchants. With Direct Lending as our partner, relief can be provided to surface our merchants’ financial needs in order for them to sustain in business with hopes that there will be upcoming new opportunities for the local automotive industry to continue to grow and remain competitive by adapting to the post Covid situation,” comment Group CEO of SERV, Arief Imran.
”This program is designed to assist micro-entrepreneurs to not just survive this crisis, but to thrive as we enable them a simple, flexible and affordable way to buy supplies as and when required to grow their businesses,” said Yik Seong Hui, founder of Direct Lending.
The collaboration between the two Cradle funded startups will first focus on businesses that are already registered in the recently launched SERV Retail-iation program. Interested businesses can apply for the assistance by simply filling out an online application form.